Regulatory frameworks must build trust in our systems: FM Sitharaman

Kolkata, May 1 (IANS) The regulatory frameworks must not only safeguard good governance but also enable enterprises, encourage formalisation and build trust in our systems, Union Finance Minister said on Thursday.

FM Sitharaman, who inaugurated the ‘Corporate Bhavan’ in New Town, Kolkata, said that the first ever ‘Prime Minister Internship Scheme (PMIS) Facilitation Centre’ is also located in the Corporate Bhavan, that will help the aspiring interns in getting the information and issues related to their application.

This new facility will house different offices of the Ministry of Corporate Affairs, including Regional Directorate (East), Registrar of Companies, Official Liquidator, SFIO, NCLT (Kolkata Bench) and the Insolvency and Bankruptcy Board of India (IBBI) under one roof.

Sitharaman said that the facility will become a “true single-window interface for companies, insolvency professionals, auditors, startups, and investors seeking timely corporate regulatory services”.

The consolidation of services at the Corporate Bhawan will help significantly cut costs, accelerate approval process, and improve operational efficiency – all of which will help enhance Ease of Doing Business, Finance Minister added.

The ‘MCA CII PMIS Centre’, a collaborative initiative between the Ministry of Corporate Affairs (MCA) and the Confederation of Indian Industry (CII), aims to connect eligible youth (aged 21-24) with internship opportunities offered by participating companies.

Through a dedicated three-member team, the centre will focus on identifying eligible candidates who are not in full-time education or employment, providing comprehensive guidance, and facilitating their registration and application in the PM Internship Scheme (PMIS).

The PMIS Facilitation Centre will help with PMIS registration and application process for eligible candidates, provide professional career counselling and guidance, match candidate qualifications and interests with suitable internship opportunities and create awareness about professional opportunities through outreach programmes.

The building has been designed with a focus on energy efficiency, waste recycling, smart parking, and the well-being of its occupants. Equipped with carbon dioxide sensors, the building ensures proper indoor air quality.

--IANS

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